Another Crypto Dump, $12 Billion Slashed on Monday Markets

Monday brings more doom and gloom to crypto land as markets have taken another turn south. A small rally over the weekend was not enough to form a sustained recovery and the bears have regained control to knock total market capitalization back below $180 billion.

After a couple of days holding around the $5,600 level Bitcoin has tanked again. BTC is currently down 5% on the day and trading at $5,320 at the time of writing, further losses look likely. Ethereum is falling hard and has hit a new low for the year. Dumping almost 11% on the day, ETH is down to $157, its lowest price since May 2017.

Altcoins are getting hammered again, even XRP can’t escape the bears this time, dropping 7.5% on the day. Cardano is disappearing down the digital drain, with another 12% shed today. EOS, Litecoin and Monero are all losing over 8% on the day. The only winner at the moment is Tether which has finally made it back to a buck.

In the top twenty Tron, Iota and Dash are dumping hard with an 11 percent lost in 24 hours. Neo, Ethereum Classic and Tezos faring worse, all dropping over 12% on the day.

For the second day Factom is the fomo pumper, adding 28% today to take FCT close to $8. Nothing has been posted on the team’s twitter feed to explain the momentum. ODEM is also defying the drop also with an 8% gain on the day. Loopring, Wanchain, Icon and Aion are all plummeting with 17-18 percent losses today.

Total crypto market capitalization is down 7% at the moment as another $12 billion gets dumped pushing things down to $173 billion. Since the same time last Monday markets have lost over 18%, or almost $40 billion. A number of analysts have predicted further losses for Bitcoin et al, and they’re getting plenty today. Another new yearly low is about to be made by the looks of things.

FOMO Moments is a section that takes a daily look at the top 20 altcoins during the current trading session and analyses the best performing ones, looking for trends and possible fundamentals.